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Why China’s crackdown on mining is actually good for Bitcoin

The ban on Proof-of-Work mining in China helped turn Bitcoin into a more resilient network.

Why China’s crackdown on mining is actually good for Bitcoin

Cover art/illustration via CryptoSlate

China’s crackdown on Proof-of-Work mining last year tested the security of the Bitcoin network and showed that it was far more resilient than once thought.

Analysts expected that it would take more than a year for Bitcoin’s hash rate to recover, but the network managed to rebound in less than a month.

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